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Yahoo
a day ago
- Business
- Yahoo
Glenfarne Announces Over $115 Billion of Strategic Partner Interest for Alaska LNG
Alaska LNG can deliver LNG into Asia at a lower cost than Henry Hub pricing from the U.S. Gulf Coast ANCHORAGE, Alaska & NEW YORK, June 03, 2025--(BUSINESS WIRE)--Glenfarne Alaska LNG, LLC ("Glenfarne"), a subsidiary of Glenfarne Group, LLC and majority owner and lead developer of Alaska LNG, a joint venture with the State of Alaska's Alaska Gasline Development Corporation, announces that it has completed the first round of its Strategic Partner selection process, with over 50 companies participating from the United States, Japan, Korea, Taiwan, Thailand, India, and the European Union. These potential partners have formally expressed interest for over $115 billion of contract value for various partnerships with the Project, including equipment and material supply, services, investment, and customer agreements. Alaska LNG's economic fundamentals allow it to deliver LNG into Asia at prices that are lower than Henry Hub pricing from the U.S. Gulf Coast. Glenfarne launched its Strategic Partner Selection Process in early May to partner with global companies with a desire for a long-term partnership with the Alaska LNG project. "The many expressions of interest received reinforce that the market recognizes Alaska LNG's advantaged economics, fully permitted status, and powerful federal, state, and local support," said Brendan Duval, CEO and Founder of Glenfarne. "The reality is being understood that the energy crisis in Southcentral Alaska can only be solved, in the long term, by the domestic portion of the pipeline, which is independently financially viable. We look forward to selecting our strategic partners and driving the project forward together." The Alaska LNG project consists of an 807-mile 42-inch pipeline capable of transporting enough natural gas to meet both Alaska's domestic needs and supply the full 20 million tonnes per annum ("MTPA") Alaska LNG export facility. Further accelerating the project's execution, the pipeline will be built in two independent, financially viable phases. Phase One will deliver natural gas approximately 765 miles from the North Slope to the Anchorage region. Phase Two adds compression equipment and approximately 42 miles of pipeline under the Cook Inlet to the Alaska LNG Export Facility in Nikiski, which will be constructed concurrently with the LNG export facility. Glenfarne anticipates a final investment decision on the domestic portion of the Alaska LNG pipeline in late Q4 2025 and recently announced a partnership with Worley to complete the final engineering for the pipeline portion of the project. Glenfarne Group, LLC is the owner of Texas LNG, which recently announced that its capacity is fully sold out, and a final investment decision is expected later this year. Glenfarne Group, LLC's other affiliates include the largest importer of LNG into Colombia and Magnolia LNG, a late-stage LNG export project located in Lake Charles, Louisiana. Beyond LNG, Glenfarne Group, LLC owns over 50 operating assets in the energy sector across five countries. Together with Alaska LNG, its permitted LNG portfolio totals 32.8 MTPA of capacity under development. About Glenfarne Group, LLC Glenfarne Group is a privately held developer, owner, and operator of energy infrastructure assets based in New York, New York and Houston, Texas, with offices in Anchorage, Alaska; Panama City, Panama; Santiago, Chile; Bogota, Colombia; Barcelona, Spain; and Seoul, South Korea. Through its subsidiaries, Glenfarne owns and operates over 50 energy infrastructure assets through three core businesses: Global LNG Solutions, Grid Stability, and Renewables. The company's seasoned executives, asset managers, and operators develop, acquire, manage, and operate energy infrastructure assets throughout North and South America. For more information, please visit View source version on Contacts Glenfarne – Micah Hirschfield, news@
Yahoo
a day ago
- Business
- Yahoo
Glenfarne Announces Over $115 Billion of Strategic Partner Interest for Alaska LNG
Alaska LNG can deliver LNG into Asia at a lower cost than Henry Hub pricing from the U.S. Gulf Coast ANCHORAGE, Alaska & NEW YORK, June 03, 2025--(BUSINESS WIRE)--Glenfarne Alaska LNG, LLC ("Glenfarne"), a subsidiary of Glenfarne Group, LLC and majority owner and lead developer of Alaska LNG, a joint venture with the State of Alaska's Alaska Gasline Development Corporation, announces that it has completed the first round of its Strategic Partner selection process, with over 50 companies participating from the United States, Japan, Korea, Taiwan, Thailand, India, and the European Union. These potential partners have formally expressed interest for over $115 billion of contract value for various partnerships with the Project, including equipment and material supply, services, investment, and customer agreements. Alaska LNG's economic fundamentals allow it to deliver LNG into Asia at prices that are lower than Henry Hub pricing from the U.S. Gulf Coast. Glenfarne launched its Strategic Partner Selection Process in early May to partner with global companies with a desire for a long-term partnership with the Alaska LNG project. "The many expressions of interest received reinforce that the market recognizes Alaska LNG's advantaged economics, fully permitted status, and powerful federal, state, and local support," said Brendan Duval, CEO and Founder of Glenfarne. "The reality is being understood that the energy crisis in Southcentral Alaska can only be solved, in the long term, by the domestic portion of the pipeline, which is independently financially viable. We look forward to selecting our strategic partners and driving the project forward together." The Alaska LNG project consists of an 807-mile 42-inch pipeline capable of transporting enough natural gas to meet both Alaska's domestic needs and supply the full 20 million tonnes per annum ("MTPA") Alaska LNG export facility. Further accelerating the project's execution, the pipeline will be built in two independent, financially viable phases. Phase One will deliver natural gas approximately 765 miles from the North Slope to the Anchorage region. Phase Two adds compression equipment and approximately 42 miles of pipeline under the Cook Inlet to the Alaska LNG Export Facility in Nikiski, which will be constructed concurrently with the LNG export facility. Glenfarne anticipates a final investment decision on the domestic portion of the Alaska LNG pipeline in late Q4 2025 and recently announced a partnership with Worley to complete the final engineering for the pipeline portion of the project. Glenfarne Group, LLC is the owner of Texas LNG, which recently announced that its capacity is fully sold out, and a final investment decision is expected later this year. Glenfarne Group, LLC's other affiliates include the largest importer of LNG into Colombia and Magnolia LNG, a late-stage LNG export project located in Lake Charles, Louisiana. Beyond LNG, Glenfarne Group, LLC owns over 50 operating assets in the energy sector across five countries. Together with Alaska LNG, its permitted LNG portfolio totals 32.8 MTPA of capacity under development. About Glenfarne Group, LLC Glenfarne Group is a privately held developer, owner, and operator of energy infrastructure assets based in New York, New York and Houston, Texas, with offices in Anchorage, Alaska; Panama City, Panama; Santiago, Chile; Bogota, Colombia; Barcelona, Spain; and Seoul, South Korea. Through its subsidiaries, Glenfarne owns and operates over 50 energy infrastructure assets through three core businesses: Global LNG Solutions, Grid Stability, and Renewables. The company's seasoned executives, asset managers, and operators develop, acquire, manage, and operate energy infrastructure assets throughout North and South America. For more information, please visit View source version on Contacts Glenfarne – Micah Hirschfield, news@
Business Wire
27-05-2025
- Business
- Business Wire
Glenfarne Announces Partnership With Worley and Commencement of Final Engineering for the Alaska LNG Pipeline
ANCHORAGE, Alaska & NEW YORK--(BUSINESS WIRE)--Glenfarne Alaska LNG, LLC ('Glenfarne'), a subsidiary of Glenfarne Group, LLC, and majority owner and lead developer of Alaska LNG, a joint venture with the State of Alaska's Alaska Gasline Development Corporation, has selected Worley to undertake additional engineering and prepare a final cost estimate for the Alaska LNG Pipeline in sufficient detail to achieve Final Investment Decision for the Pipeline. This work has commenced and will utilize and supplement the extensive package of previously completed engineering work and update the cost of the pipeline. Worley has also been selected as the preferred engineering firm for the Cook Inlet Gateway LNG import terminal and project delivery advisor to Glenfarne across the Alaska LNG projects. 'The declining gas production from Cook Inlet risks Alaska's energy security, as well as U.S. national security and military readiness. Prioritizing the development and final investment decision of the pipeline is essential to solving the natural gas shortages which are already impacting the state,' said Brendan Duval, CEO and Founder of Glenfarne Group, LLC. Concurrently with the final engineering work, Glenfarne has launched a strategic partner selection process to partner with global companies that support Glenfarne's execution efforts and have complementary expertise to help deliver the Alaska LNG project. 'Glenfarne is pushing Alaska LNG forward with expediency engaging prospective strategic partners. We are particularly proud to be expanding our relationship with Worley to Alaska LNG from our existing partnership on the Texas LNG project. Worley is one of the world's largest and most experienced engineering and project delivery firms with a long history of success in Alaska,' Duval added. Worley has been supporting customers in Alaska for 60+ years, delivering engineering, logistics, procurement, fabrication and construction, operations and maintenance (O&M), and field services, including for many of the projects and clients on the North Slope. Worley's deep Alaskan relationships include teams in Anchorage and a jointly owned partnership formed in 1972 between NANA NORTH, LLC, a wholly owned subsidiary of NANA Regional Corporation - one of 13 Alaska Native Corporations created by the Alaska Native Claims Settlement Act of 1971, and Worley Services (USA), Inc. 'As a full project delivery company with a strong track record in Alaska and supporting LNG projects, we're honored Glenfarne has chosen Worley to help deliver the Alaska LNG project," said Mark Trueman, President Americas, Worley. "Our specialist team is well placed to support Glenfarne in moving this vital project forward, improving energy security for Alaska and the world.' The Alaska LNG Pipeline is an 807-mile 42-inch pipeline capable of transporting enough natural gas to meet both Alaska's domestic needs and supply the full 20 million tonnes per annum ('MTPA') Alaska LNG export facility. The pipeline will be constructed in two phases. Phase One will deliver natural gas approximately 765 miles from the North Slope to the Anchorage region. Phase Two adds compression equipment and approximately 42 miles of pipeline under Cook Inlet to the Alaska LNG Export Facility in Nikiski and will be constructed concurrently with the LNG export facility. Glenfarne anticipates a final investment decision on the Alaska LNG Pipeline in 2025. Glenfarne Group, LLC is the owner of Texas LNG, which recently announced that its capacity is fully sold out. A final investment decision is expected later this year. Glenfarne Group, LLC's other affiliates include the largest importer of LNG into Colombia and Magnolia LNG, a late-stage LNG export project located in Lake Charles, Louisiana. Beyond LNG, Glenfarne Group, LLC owns 50 operating assets in the energy sector across five countries. Together with Alaska LNG, its permitted LNG portfolio totals 32.8 MTPA of capacity under development. About Glenfarne Group, LLC Glenfarne Group is a privately held developer, owner, and operator of energy infrastructure assets based in New York, New York and Houston, Texas, with offices in Anchorage, Alaska; Panama City, Panama; Santiago, Chile; Bogota, Colombia; Barcelona, Spain; and Seoul, South Korea. Through its subsidiaries, Glenfarne owns and operates 50 energy infrastructure assets through three core businesses: Global LNG Solutions, Grid Stability, and Renewables. The company's seasoned executives, asset managers, and operators develop, acquire, manage, and operate energy infrastructure assets throughout North and South America. For more information, please visit About Worley Limited Worley is a leading global professional services company of energy, chemicals and resources experts. With around 50,000 employees in 45 countries, we partner with customers to deliver projects and create value over the life of their assets. We're bridging two worlds, moving towards more sustainable energy sources, while helping to provide the energy, chemicals and resources needed now. Worley Limited is headquartered in Australia and listed on the Australian Securities Exchange (ASX: WOR).
Yahoo
24-04-2025
- Business
- Yahoo
Glenfarne to acquire four solar assets with battery storage facilities in Chile
Glenfarne, an energy and infrastructure asset manager, has agreed to acquire four utility-scale solar assets and associated battery energy storage system (BESS) facilities in Chile. The acquisition, which involves a subsidiary of Glenfarne, encompasses 588MW of operational solar capacity and 1.61 gigawatt-hours (GWh) of BESS facilities, equivalent to 321MW, currently under construction. The assets, purchased from Metlen Energy & Metals, will increase Glenfarne's capacity to more than 3.1GW, including battery storage across Latin America. Glenfarne CEO and founder Brendan Duval said: 'This acquisition further diversifies Glenfarne's renewable energy portfolio and includes our first foray into both utility-scale solar and battery storage facilities. We will continue to look for strategic opportunities to grow our Chile business that are aligned with the company's mission to realise the world's energy transition.' The transaction is contingent on regulatory approvals, financing conditions and customary adjustments, with the BESS expected to become operational by early 2026. Legal firms Paul Hastings, White & Case and Claro & Cia provided advisory services for the transaction. Metlen CEO Evangelos Mytilineos said: 'This is a landmark transaction for Metlen, as we pave the growth of M Renewables. We identified the potential of Chile's renewables market in 2020 and have managed to successfully overcome market challenges. In doing so, we have developed, structured – commercially and financially – and constructed these projects at the highest standard. 'This transaction reinforces our relationship with Glenfarne across the renewables market but also creates foundations for further enhancing the cooperation in other areas of common interest.' Meanwhile, Metlen is collaborating with GE Vernova's Grid Solutions to construct converter stations for the Eastern Green Link 1, a subsea electric superhighway project led by Iberdrola and National Grid Electricity Transmission, valued at £2.5bn ($3.1bn). "Glenfarne to acquire four solar assets with battery storage facilities in Chile" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
23-04-2025
- Business
- Yahoo
METLEN and Glenfarne seal landmark deal for Solar and Battery Energy Storage Systems in Chile with total installed capacity of 588 MW and energy storage capacity of 1,610 MWh
ATHENS, Greece, April 23, 2025 /PRNewswire/ -- METLEN Energy & Metals S.A. ("METLEN") and a wholly owned subsidiary of Glenfarne Asset Company, LLC ("Glenfarne") have entered into an agreement for Glenfarne to acquire a portfolio of Solar and Battery Energy Storage System ("BESS") assets in Chile. The transaction involves operational solar projects with total capacity of 588 MW, combined with co-located BESS facilities with storage capacity of 1,610 MWh. Construction for the BESS facilities is ongoing and expected to be completed within a year. The projects benefit from wide geographic diversification and multiple interconnection nodes across Chile's Sistema Eléctrico Nacional (SEN), allowing for portfolio optimization. The headline consideration of the acquisition is agreed at USD 815Mio, including the assumption of debt, and based on certain financing assumptions and other adjustments. The closing of the transaction is planned to occur when the BESS becomes operational, regulatory approvals are obtained and certain financing and other customary conditions for this type of transactions are fulfilled. This landmark agreement forms part of METLEN's global Asset Rotation Program for renewable energy projects and showcases the unparalleled capabilities of METLEN to implement highly complex transactions globally. As BESS become an integral part of energy markets, METLEN has been in the forefront of implementing energy storage projects – standalone and on a hybrid basis. Through a unique set of capabilities across development, engineering, structuring and construction, we are able to create substantial value across our global energy business. Commenting on this sizeable transaction, the CEO of METLEN Mr. Evangelos Mytilineos, said: "This is a landmark transaction for METLEN, as we pave the growth of M Renewables. We have identified the potential of Chile's renewables market in 2020 and have managed to successfully overcome market challenges. In doing so we have developed, structured – commercially and financially - and constructed these projects at the highest standard. "This agreement reinforces our relationship with Glenfarne across the renewables market but also creates foundations for further enhancing the cooperation in other areas of common interest. Furthermore, it allows METLEN to release capital and crystallize value in a challenging market environment, providing confidence on the execution of the Asset Rotation Program." Brendan Duval, Founder and CEO of Glenfarne, said, "This transaction represents a significant step in Glenfarne's commitment to further expanding our presence in Chile's renewable energy sector and continued growth in our business relationships with METLEN. We're glad to work with METLEN on this transaction, which aligns with our mission by investing in infrastructure that supports Chile's energy transition." Astris Finance acted as Financial Advisor, and Milbank LLP, Larrain y Asociados Ltda., acted as legal advisors to METLEN for this transaction. METLEN: METLEN Energy & Metals is a multinational industrial and energy company, a leader in the metallurgy and energy industries, focused on sustainability and circular economy. The Company is listed on the Athens Stock Exchange, with a consolidated turnover and EBITDA of €5.68 billion and €1.08 billion, respectively. METLEN is a reference point for competitive green metallurgy at the European and global level, whilst operating the only vertically integrated bauxite, alumina and primary aluminum production unit in the European Union (E.U.) with privately owned port facilities. In the energy sector, METLEN offers comprehensive solutions, covering thermal and renewable energy projects, electricity distribution and trading, alongside investments in grid infrastructure, battery storage, and other green technologies. The Company is active in the markets of all five continents, in 40 countries, adopting a full-scale synergetic model between the Metallurgy and Energy Sectors, while undertaking end-to-end development of major energy infrastructure projects. About Glenfarne Group, LLC Glenfarne Group is a privately held developer, owner, and operator of energy infrastructure assets based in New York, New York and Houston, Texas, with offices in Anchorage, Alaska; Panama City, Panama; Santiago, Chile; Bogota, Colombia; Barcelona, Spain; and Seoul, South Korea. Through its subsidiaries, Glenfarne owns and operates over 50 energy infrastructure assets through three core businesses: Global LNG Solutions, Grid Stability, and Renewables. The company's seasoned executives, asset managers, and operators develop, acquire, manage, and operate energy infrastructure assets throughout North and South America. For more information, please visit If you no longer wish to receive Press Releases and Updates from METLEN, click here. Logo: View original content to download multimedia: SOURCE METLEN Energy & Metals Sign in to access your portfolio
